Answered step by step
Verified Expert Solution
Question
1 Approved Answer
M.T. Glass, Inc. purchased the following investments on January 1, 2028: 1. 21,000 shares (representing 42%) of AA Company stock for $546,000 2. 18,000 shares
M.T. Glass, Inc. purchased the following investments on January 1, 2028: 1. 21,000 shares (representing 42%) of AA Company stock for $546,000 2. 18,000 shares (representing 9%) of ZZ Company stock for $306,000 AA Company and ZZ Company reported the following information for the years 2028 and 2029: 2028: Net income Total dividends paid Market value at Dec 31 2029: Net incomp Total dividends paid Market value at Dec 31 AA Company $140,000 $ 78,000 $33 per share AA Company $210,000 $ 90,000 $35 per share ZZ Company. $225,000 $ 53,000 $22 per share ZZ Company. $280,000 $125,000 $23 per share Calculate the amount of dividend revenue shown in M.T. Glass, Inc.'s 2029 income statement for these two investments. M.T. Glass, Inc. purchased the following investments on January 1, 2028: 1. 21,000 shares (representing 42% ) of AA Company stock for $546,000 2. 18,000 shares (representing 9% ) of ZZ Company stock for $306,000 AA Company and ZZ Company reported the following information for the years 2028 and 2029 : 2978 . Calculate the amount of dividend revenue shown in M.T. Glass, Inc.'s 2029 income statement for these two investments
M.T. Glass, Inc. purchased the following investments on January 1, 2028: 1. 21,000 shares (representing 42%) of AA Company stock for $546,000 2. 18,000 shares (representing 9%) of ZZ Company stock for $306,000 AA Company and ZZ Company reported the following information for the years 2028 and 2029: 2028: Net income Total dividends paid Market value at Dec 31 2029: Net incomp Total dividends paid Market value at Dec 31 AA Company $140,000 $ 78,000 $33 per share AA Company $210,000 $ 90,000 $35 per share ZZ Company. $225,000 $ 53,000 $22 per share ZZ Company. $280,000 $125,000 $23 per share Calculate the amount of dividend revenue shown in M.T. Glass, Inc.'s 2029 income statement for these two investments.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started